Bitcoin Drops 2.5% Amid FBI Investigation into Tether
Bitcoin’s value has dropped 2.5% to $66,450 amid an FBI investigation into Tether for potential sanctions violations. As the world’s most traded stablecoin faces scrutiny over alleged links to criminal activities, the cryptocurrency market experiences increased volatility. With Tether’s daily trading volume at $190 billion, the outcome of this investigation could significantly impact the future of stablecoins and the broader crypto ecosystem.
Binance Founder Faces Sentencing Hearing for Money Laundering Violations
Binance founder Changpeng Zhao faces a critical sentencing hearing today for violating US money laundering laws. Prosecutors seek a three-year prison term, while Zhao’s defense argues against jail time. With a $4.3 billion fine and resignation from Binance, the debate over Zhao’s incarceration unfolds in Seattle, emphasizing the need for ‘general deterrence’ in similar cases.